Completion bond

Hello,

two questions regarding this:

1) What height should / must it have? What is "common"? Is 15% of the construction costs sufficient?

2) Does it have to be a first-demand guarantee? What other forms / possibilities / restrictions are there regarding the "demand"?

Regards

Project 2012

Thank you!

What about §§ 770 paragraphs 1 and 2 of the [Baugesetzbuch] and §773 [Baugesetzbuch] as well?

Regards

projekt 2012

Hello,

What about §§ 770 paragraphs 1 and 2 of the Building Code and §773 of the Building Code?

What do you expect from that?

Kind regards

Hello,


....in the event of insolvency, being able to directly hold the guarantor liable without having to go through the often lengthy process of § 771 Baugesetzbuch and having to have conducted an unsuccessful seizure attempt against the debtor....


Regards

Projekt 2012

Hello,

....in the event of insolvency, being able to immediately hold the guarantor liable without having to go through the often lengthy process of § 771 Baugesetzbuch and having to conduct an unsuccessful seizure attempt against the debtor...

THIS falls within the scope of legal advice, and in Germany, this is exclusively reserved for the legal professions. Accordingly, I am not allowed to respond to this.

Find a lawyer you trust and clarify the questions about a guarantee with him :D

Best regards